The Spectator’s notes | 25 October 2008

But why did Nathaniel Rothschild write to the Times? Yes, he was genuinely annoyed that George Osborne had relayed Peter Mandelson’s disobliging remarks about Gordon Brown to the Sunday Times. The then Mr Mandelson was Mr Rothschild’s guest, as was Mr Osborne. Mr Osborne betrayed hospitality and strained an old friendship. That might have made Mr Rothschild tell Mr Osborne privately that he never wanted to see him again. It might even have made him ‘tell friends’ (as the press puts it) about the supposedly naughty behaviour of Mr Osborne in relation to Oleg Deripaska and his money. But why write a public letter? Mr Rothschild deals professionally with other rich people’s money, and is therefore expected to be discreet. Why, even in revenge, would he break what he himself calls, in his letter, ‘the age-old adage that private parties are just that’? The answer could simply be righteous anger, plus a touch of Rothschild arrogance, but I doubt it.